Alston & Bird Consumer Finance ABstract

California Releases Modified CCPA Regulations

By

On February 7, 2020, the California Office of the Attorney General released Modified Regulations to the California Consumer Privacy Act (“CCPA”). The Modified Regulations update the Initial Proposed Regulations, which were previously published on October 11, 2019. The deadline to submit written comments is February 24, 2020 at 5:00 pm PST. Alston & Bird’s Privacy & Data Security team will be publishing a blog post with a more detailed discussion of the Modified Regulations. … [Continue reading] about California Releases Modified CCPA Regulations

New York Proposes Licensing Consumer Debt Collectors

By and

State Capital

A&B ABstract:  On January 21, 2020, New York Governor Andrew Cuomo proposed a measure to license consumer debt collectors as part of his budget bill. If enacted, the measure would require any person acting as a “consumer debt collector” in New … [Continue reading] about New York Proposes Licensing Consumer Debt Collectors

FTC to Settle Charges of Deception with Marketer of Consumer Financial Products

By

Global Expenses

A&B ABstract: The Federal Trade Commission (“FTC”) recently announced an administrative complaint and proposed settlement against a marketer of consumer financial products that highlights potential compliance issues with product and service … [Continue reading] about FTC to Settle Charges of Deception with Marketer of Consumer Financial Products

Puerto Rico Office of the Commissioner of Financial Institutions Announces Mandatory Mortgage Servicer Reporting in Response to Recent Earthquakes

By , and

Global Expenses

A&B ABstract: In the wake of the recent earthquakes in Puerto Rico, the Puerto Rico Office of the Commissioner of Financial Institutions (“OCFI”) released Circular Letter No. CFI-2020-01 (the “Circular Letter”). The Circular Letter imposes … [Continue reading] about Puerto Rico Office of the Commissioner of Financial Institutions Announces Mandatory Mortgage Servicer Reporting in Response to Recent Earthquakes

FHFA Proposes New Minimum Financial Requirements for Fannie Mae and Freddie Mac Seller/Servicers

By

A&B ABstract  In keeping with broader scrutiny on non-bank servicers, the Federal Housing Finance Agency (FHFA) is proposing new financial eligibility requirement for non-bank servicers doing business with Fannie Mae or Freddie Mac. The … [Continue reading] about FHFA Proposes New Minimum Financial Requirements for Fannie Mae and Freddie Mac Seller/Servicers